Hex’s market cap drops $500M after SEC lawsuit token delisted from DEX
Big problem for HEX token! US regulators say it’s a security, and its value dropped a lot.
The founder, Richard Heart, is accused of doing bad things with investors’ money and buying fancy things. The HEX token used to be worth $1.47 billion, but now it’s only worth around $706 million.
Image by AI
The trouble also affected Pulsechain, a related network. The value of locked assets on Pulsechain went down by more than half. But the trading volume on the network went up by a lot.
Now, two big crypto platforms, MetaMask and Uniswap, have stopped supporting HEX transactions. People are not happy about this decision, and they are asking how decentralized these platforms really are.
It’s a predicament for HEX and its local area, and we’re holding back to perceive how things will unfurl.
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